On Thursday Jan 19 2017, the Canadian Stock Market spent the day holding its position at the 21 day moving average following 3 days of losses. The recovery on Thursday was muted at just 11.96 points. Gold fell lower on Thursday along with the Canadian dollar.
TSX Composite Index Rises 11.96 Points
The slight gain on Thursday left the TSX Composite Index at 15,409.81.
Two stocks that stood out on Thursday were Canadian Pacific Railway (CP) which released strong earnings for the final quarter but annually saw a decline in overall revenue. The close saw Canadian Pacific Railway stock up 3.96% at $200.11. As well news that CEO Hunter Harrison was stepping down boosted shareholders’ expectations of increased revenue in 2017 under new leadership.
The other stock was Cameco Corp (CCO) a major uranium producer, whose stock rose 10.15% to close at $15.85 after falling almost as much the day before.
Here is the Canadian Stock Market outlook for Friday Jan 20 2017. The outlook includes the latest update to the TSX Market Direction Portfolio.
The rest of the Canadian Stock Market Outlook for tomorrow is for FullyInformed Members.
TSX Composite Index – Canadian Stock Market Outlook for Jan 20 2017
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